CSE conducts successful live disaster recovery exercise
View(s):The Colombo Stock Exchange (CSE) conducted a successful disaster recovery testing exercise, as a part of its Business Continuity Planning (BCP), from its Disaster Recovery site last week, where all trading and post trade operations took place from this rmote site for a complete market day.
“This is the first time such an exercise has taken place and demonstrates the commitment of the CSE to ensure the robustness of system infrastructure and the preparedness of the Exchange to face a sudden and unexpected event.
The successful exercise indicated that the CSE’s Business Continuity process is dynamic and the disaster recovery facility is fully functional and operational and therefore capable of carrying out all system critical processes in an eventuality. The disaster recovery exercise is expected to be carried out annually, to ensure the continued maintenance of the expected standards,” the CSE said.
The market wide exercise included all market participants such Stockbrokers, Information vendors, ATS /CDS system suppliers, web site service provider, custodian banks and other market participants. This exercise enabled the CSE to test the preparedness of all participants in the event of a contingency.
A site disaster scenario was created from 6.30 a.m. and the BCP plan was put into action soon after and all operations were switched to the backup site.
All CSE mission critical staff operated from the disaster recovery site and functional market activities, including market surveillance, publishing of market announcements, CDS operations and end of day data processing, took place from this site. The entire exercise was observed and audited by a team of external on-site auditors.